AOL is scheduled to announce its first-quarter earnings on Friday morning before the market opens. Here’s what you need to know:

–EARNINGS FORECAST: AOL is expected to report per-share earnings of 32 cents, according to analysts polled by Thomson Reuters, compared with 34 cents a year earlier.

–REVENUE FORECAST: AOL posted better-than-expected earnings during its fourth quarter last year, as the company’s global advertising revenue climbed 8% to $562 million. However, AOL exhibited more revenue growth on third party websites that the company helps sell advertising on than it did for its owned-and-operated properties. Analysts expect revenue of $595 million compared with $583 million in the year-ago quarter. Read More »

The company revealed for the first time the size of its mobile business, reporting that ads on mobile devices generated more than $200 million in sales in the third quarter, or about 17% of the company’s total revenue. Yahoo said gross revenue from mobile will top $1.2 billion this year. Read More »

AOL is reaching into the traditional media ranks as it looks to build an online video business that can compete head-to-head with television.

The Web company has hired Dermot McCormack, who has held several digital media roles at Viacom–he recently ran Viacom Music & Logo’s Connect Content Group–as its new President of Video and Studios. McCormack replaces Ran Harnevo, who joined AOL when his video syndication startup 5min Media was acquired in 2010. Read More »